#Africa #Markets | 11 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stock markets roiled as US ups ante in trade conflict
  • MSCI Asia-Pacific index down 1.1 pct, Nikkei sheds 1 pct
  • Spreadbetters expected European stocks to open lower
  • Equities slide as US warns of more tariffs on Chinese goods
  • News seen reviving trade woes, safe havens gain broadly
  • Copper, zinc slide to 1-year low, oil also sharply lower

Oil Markets

  • Oil falls on trade fears after Trump’s tariff threat
  • Trump threatens tariffs on another $200 bln of Chinese goods
  • Trade tensions are dragging on commodity markets
  • US could also consider waivers on sanctions against Iran
  • Brent crude futures down 0.8 pct at $78.21 a barrel (0627GMT)
  • US WTI crude futures down 0.6 pct at $73.68 a barrel

Precious metals (10 Jul)

  • Gold prices slip on stronger dollar; bullion seen re-testing low
  • Spot gold down 0.2 pct at $1,225.09 an ounce (1733GMT)
  • US gold futures for August delivery settled down 0.3 pct at $1,255.40 per ounce

Grains (10 Jul)

  • Corn hits contract lows on favourable US crop weather
  • USDA sees US soybean and corn crops in decent state
  • Most active CBOT corn futures down 2.4 pct at $3.45-1/4 a bushel (1749GMT)
  • Most active August soybeans futures down 2-1/2 cents at $8.53-1/4 a bushel
  • Most active CBOT September wheat futures down 3.3 pct at $4.91-1/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • AGOA forum starts today in Washington DC
  • Afreximbank annual meetings start today in Abuja

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Rio Tinto says minerals sands operation in South Africa shut by protests
  • Nigeria central bank injects $210 mln into currency market
  • Key positions unchanged in new Ivory Coast govt
  • Nigerian lawmakers to investigate state oil firm over remittances
  • SDX Energy Morocco revenues should quadruple in next three years – CEO
  • Moroccan growth to slow to 2.9 pct in 2019 – planning agency
  • Plane crash in South Africa injures 20 – emergency services
  • Morocco budget deficit seen 3.9 pct/GDP in 2018, 3.6 pct in 2019
  • Africa Crude – Bonny Light still under force majeure, Sonangol sells Dalia
  • South Sudan govt forces, allies killed hundreds of civilians – UN
  • Families speak after 20 years as Ethiopia restores phones to Eritrea
  • Energy subsidy cuts trigger June jump in Egypt consumer inflation
  • Kenyan shilling weakens amid excess money market liquidity
  • Egypt’s core inflation decreases to 10.9 pct y/y in June – c.bank
  • Sierra Leone launches corruption inquiry into former govt
  • Ethiopia to roll out Eritrea deal fast to make up for lost opportunities
  • South Africa’s business confidence index falls again in June
  • Egypt’s annual urban consumer price inflation up to 14.4 pct in June – CAPMAS
  • Ethiopian Airlines says will resume flights to Eritrea’s capital on July 17

N.B. Full stories of above headlines are available on Reuters

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